Indian stocks rise after fourth straight day of sharp slump

Updated:3 years, 9 months ago

New Delhi, Sep 27 (ANI): Snapping four straight sessions of sharp losses, Indian stocks again gained some momentum in early trade on Tuesday, possibly due to value buying. At 9.32 am, Sensex traded at 57,628.49 points, up 483.27 points or 0.85 per cent, whereas Nifty traded at17,171.30 points, up 155.00 points or 0.91 per cent. Meanwhile, 45 of the Nifty 50 companies traded in the green this morning, National Stock Exchange data showed. The Indian stock market's key indices, Sensex and Nifty, slumped by nearly two per cent on Monday dragged by broad-based selling tracking weakness in the global equities, which took cues from aggressive monetary policy tightening by various central banks, including the US Federal Reserve. The latest policy rates hike by the US central bank in its fight against high inflation has dampened investors' sentiment. The latest slump in Indian equities reversed the positive sentiments in the domestic market that continued for two months.

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Indian stocks rise after fourth straight day of sharp slump

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